Whittard of Chelsea’s coffee sales are set to outstrip those of tea for the first time as hard-pressed consumers opt to make their own rather than buy from coffee shops.
The tea and coffee specialist, owned by Icelandic investment group Baugur, said that sales of coffee climbed 15 per cent while tea sales remained flat for the six months to July 31. It expects coffee sales to overtake tea in the next 12 months.
The news will add fuel to the debate over whether coffee shops are likely to be particularly hard hit by the economic downturn as consumers rein in spending.
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